Westell Technologies Inc. (NASDAQ:WSTL) Short Interest Up 16.7% in July

Westell Technologies Inc. (NASDAQ:WSTL) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,100 shares, a growth of 16.7% from the June 30th total of 1,800 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 26,300 shares, the short-interest ratio is currently 0.1 days.

A hedge fund recently raised its stake in Westell Technologies stock. Gradient Investments LLC boosted its position in shares of Westell Technologies Inc. (NASDAQ:WSTL) by 150.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,856 shares of the communications equipment provider’s stock after purchasing an additional 10,731 shares during the period. Gradient Investments LLC owned approximately 0.11% of Westell Technologies worth $34,000 at the end of the most recent quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

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WSTL traded up $0.03 on Friday, reaching $1.43. The stock had a trading volume of 2,152 shares, compared to its average volume of 26,000. The business’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $1.91. Westell Technologies has a 12-month low of $1.31 and a 12-month high of $2.93.

Westell Technologies (NASDAQ:WSTL) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter. The business had revenue of $9.00 million for the quarter. Westell Technologies had a negative return on equity of 12.61% and a negative net margin of 34.15%.

Westell Technologies Company Profile

Westell Technologies, Inc, through its subsidiary, Westell, Inc, designs and distributes telecommunications products to telephone companies in the United States. The company operates through three segments: In-Building Wireless (IBW), Intelligent Site Management and Services (ISMS), and Communications Network Solutions (CNS).